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Retail sales surge 3.8% in January, much more than expected amid inflation rise

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February 16, 2022
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Consumer spending bounced back sharply in January as rising inflation and a post-holiday surge kept cash registers ringing, the Commerce Department reported Wednesday.

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Retail sales for the month rose 3.8%, much better than the 2.1% Dow Jones estimate.

This is breaking news. Please check back here for updates.

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Walmart's earnings may signal if shoppers are spending or getting spooked by inflation

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